Good Part 1
Although we had the prelude last issue, it appears the story is still heavily in setup mode. In fact, other than the opening scene with Carlie showing Peter that she has spider powers, the action doesn't really start until the last 1/3 of the book. It's even hard to tell what the Jackal's real plan is, other than making everyone hate and distrust Spider-Man.
The issue does setup the beginning of either a breakup or a growth moment for Spidey and Carlie's relationship early on. This issue left me very intrigued for where things go next. If you want to see the back-story on how the Avengers arrived on the scene, check out Spider-Island: Cloak and Dagger #1.